Murphy Capital Management Inc. Decreases Stock Position in Amgen, Inc. (NASDAQ:AMGN)

Murphy Capital Management Inc. lessened its stake in shares of Amgen, Inc. (NASDAQ:AMGN) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 9,695 shares of the medical research company’s stock after selling 254 shares during the period. Murphy Capital Management Inc.’s holdings in Amgen were worth $1,876,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Beutel Goodman & Co Ltd. raised its holdings in Amgen by 9.9% during the 1st quarter. Beutel Goodman & Co Ltd. now owns 731,369 shares of the medical research company’s stock valued at $103,973,000 after buying an additional 65,821 shares during the period. Harrington Investments INC raised its holdings in Amgen by 1.5% during the 1st quarter. Harrington Investments INC now owns 11,890 shares of the medical research company’s stock valued at $2,259,000 after buying an additional 176 shares during the period. Spinnaker Trust raised its holdings in Amgen by 1.5% during the 1st quarter. Spinnaker Trust now owns 9,993 shares of the medical research company’s stock valued at $1,898,000 after buying an additional 143 shares during the period. Osborn Williams & Donohoe LLC raised its holdings in Amgen by 18.5% during the 1st quarter. Osborn Williams & Donohoe LLC now owns 30,054 shares of the medical research company’s stock valued at $5,774,000 after buying an additional 4,695 shares during the period. Finally, Manchester Financial Inc. raised its holdings in Amgen by 19.5% during the 1st quarter. Manchester Financial Inc. now owns 5,358 shares of the medical research company’s stock valued at $1,018,000 after buying an additional 875 shares during the period. Institutional investors own 76.24% of the company’s stock.

AMGN has been the topic of several recent research reports. Evercore ISI restated a “hold” rating on shares of Amgen in a report on Sunday, August 11th. BMO Capital Markets set a $240.00 target price on Amgen and gave the stock a “buy” rating in a research note on Monday, September 30th. Mizuho reiterated a “hold” rating and issued a $212.00 target price on shares of Amgen in a research note on Sunday, September 29th. Goldman Sachs Group set a $243.00 target price on Amgen and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $225.00 target price (up previously from $202.00) on shares of Amgen in a research note on Friday, August 16th. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Amgen has a consensus rating of “Hold” and a consensus price target of $217.41.

AMGN stock traded up $3.83 during midday trading on Friday, reaching $202.52. The company’s stock had a trading volume of 1,335,210 shares, compared to its average volume of 2,465,687. The company has a debt-to-equity ratio of 2.58, a quick ratio of 2.60 and a current ratio of 2.89. The stock has a fifty day simple moving average of $199.57 and a two-hundred day simple moving average of $186.20. Amgen, Inc. has a 1 year low of $166.30 and a 1 year high of $211.90. The firm has a market capitalization of $117.59 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 2.55 and a beta of 1.11.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, July 30th. The medical research company reported $3.97 EPS for the quarter, beating the consensus estimate of $3.58 by $0.39. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.67 billion. Amgen had a return on equity of 76.17% and a net margin of 33.78%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.83 earnings per share. As a group, analysts forecast that Amgen, Inc. will post 14.31 EPS for the current fiscal year.

In other news, Director Ronald D. Sugar sold 2,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $206.70, for a total transaction of $413,400.00. Following the transaction, the director now owns 16,336 shares in the company, valued at $3,376,651.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director R Sanders Williams sold 425 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $183.04, for a total value of $77,792.00. Following the transaction, the director now owns 16,336 shares in the company, valued at approximately $2,990,141.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,851 shares of company stock worth $3,671,900. Insiders own 0.25% of the company’s stock.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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